How to Get the Most Out of Board of Directors Meetings
The board of directors supervises the performance and strategic direction of the company. To make informed decisions, it’s important that the board stays in contact with the key executives of the company and keep up-to-date on relevant reports and other relevant information. Board meetings offer the chance to accomplish this.
Teleconferences are becoming more commonplace, as a growing number individuals work remotely. The frequency of meetings may vary from a couple each year to every month.
In the process of preparing for your next board meeting, think about providing a portal containing the latest materials for your board and pre-saved agendas to help directors quickly find what they need and focus on the important discussions. Facilitate a pre-meeting discussion with your fellow directors to address any questions or concerns addressed so that meeting time can be devoted to discussing strategy instead of going through a litany of reports.
The board members spend most of their time discussing the performance of the company and reviewing any major changes that have occurred since the last meeting, discussing KPIs and exploring future strategy. The board may also review and approve a list of old or new business items. After all of this the board will typically suspend the meeting.
